Pepsi to expand in Mexico
Pepsi-Cola International says it will invest $750 million in a five-year plan to expand its bottling, distribution and marketing operations in Mexico. The first stage of the plan includes investments of $115 million in bottling joint-ventures with Mexican partners in key markets -- including Guadalejara, Monterrey and the Mexico City area -- the company said yesterday.
Northwest drops fare increase
Northwest Airlines has withdrawn its 5 percent increase on leisure fares after the rest of the airline industry refused to go along with it. Northwest and other carriers are also giving travelers an extra five days to purchase tickets with discounts of as much as 40 percent.
Accord on AIDS drug revised
MedImmune Inc. of Gaithersburg said yesterday that it revised its agreement with Merck & Co. Inc. to develop a drug to cure and prevent AIDS. While Merck will continue financing the development of the drug, it backed away from paying for further research by MedImmune. The Gaithersburg company said no conclusions could be drawn yet about whether its new drug would be effective.
Industrial Bank chief dies at 82
B. Doyle Mitchell, chairman and president of the Industrial Bank of Washington, the second-largest minority-owned bank in the country, died of cardiac arrest Tuesday at Walter Reed Army Medical Center. He was 78.
Mr. Mitchell succeeded his father, bank organizer Jessie H. Mitchell, as Industrial president in 1954 and as chairman in 1955. The bank is the nation's oldest, and the district's only, black-owned bank.
PC users brace anew for virus
Personal computer users the world over are once again bracing for the outbreak of an infamous computer virus named Michelangelo, but experts say this year's infection rate shouldn't amount to much of an epidemic.
Tomorrow is the 518th anniversary of the birth of the Italian Renaissance artist and the trigger date for a nasty practical joke in which data on the hard disks of infected International Business Machines Corp. and IBM-compatible PCs gets overwritten by gibberish.
Bombing may result in 900 layoffs
At least 900 people are expected to be laid off at least temporarily as a result of the World Trade Center bombing, a New York official said.
Josephine Nieves, commissioner for the city's Department of Employment, said the workers represent staff from the Vista International Hotel and the Windows on the World restaurant, perched atop the 107th floor of 1 World Trade Center.